Winter Haven Economic Development Council Inc
- Assets
- $363.5k
- Revenue
- $384.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Winter Haven, FL
- Founding
- 05/2012
- Data as of
- 09/2022
- EIN
- 45-3154152
Organization Overview
Winter Haven Economic Development Council Inc, operating under the name Council Inc, is located in Winter Haven, FL. The organization was established in 2012. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2022, Council Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Council Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2022, Council Inc generated $384.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $362.7k during the year ending 09/2022. While expenses have increased by 3.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATING HIGH QUALITY JOBS THROUGH THE EXPANSION OF EXISTING BUSINESSES AND INDUSTRY AND BY ATTRACTING NEW BUSINESSES AND INDUSTRY TO THE WINTER HAVEN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED PROMOTIONAL MATERIALS TO IMPROVE THE ORGANIZATION'S PRESENCE IN THE COMMUNITY AND FOSTER EXPANSION OF EXISTING BUSINESS AND INDUSTRY, ATTRACT NEW HIGH-SKILL,HIGH WAGE BUSINESS AND INDUSTRY: EXPAND ECONOMIC AND JOB OPPORTUNITIES FOR WINTER HAVEN RESIDENTS; BROADEN THE LOCAL TAX BASE AND ENHANCE RELATIONSHIPS WITH LOCAL, REGIONAL,STATE, NATIONAL AND INTERNATIONAL ECONOMIC DEVELOPMENT ORGANIZATIONS AND AGENCIES.
THE COUNCIL ENTERED INTO A PROGRAM WITH THE CITY OF WINTER HAVEN TO ADMINISTER AN AFFORDABLE HOUSING PROGRAM TO ADDRESS AFFORDABLE HOUSE CHALLENGES WITHIN THE COMMUNITY. THE EFFORT IS INTENDED TO ENCOURAGE INVESTMENT BY PRIVATE ENTERPRISES, TO LEVERAGE PUBLIC AND PRIVATE SECTOR INVESTMENTS, AND TO STIMULATE ACQUISITION OF PROPERTY AND CONSTRUCTION AND REHABILITATION OF HOUSING AND COMMUNITY INVESTMENTS THROUGH USE OF PUBLIC AND PRIVATE FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Lyon President/ceo | 40 | $151,459 | |
Nicole Irby Treasurer | OfficerTrustee | 1 | $0 |
Mark Turner Chair | OfficerTrustee | 1 | $0 |
Angela Falconetti Vice Chair/secretary | OfficerTrustee | 1 | $0 |
Steven Elias Director | Trustee | 1 | $0 |
Ingram Leedy Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $141,560 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $143,560 |
| Total Program Service Revenue | $240,398 |
| Investment income | $213 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $384,171 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,459 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,548 |
| Pension plan accruals and contributions | $8,094 |
| Other employee benefits | $0 |
| Payroll taxes | $20,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,600 |
| Advertising and promotion | $3,257 |
| Office expenses | $3,157 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,945 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,247 |
| Insurance | $3,184 |
| All other expenses | $15,016 |
| Total functional expenses | $362,652 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $312,731 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $35,000 |
| Accounts receivable, net | $9,140 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $876 |
| Net Land, buildings, and equipment | $5,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $363,508 |
| Accounts payable and accrued expenses | $11,221 |
| Grants payable | $0 |
| Deferred revenue | $70,833 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $82,054 |
| Net assets without donor restrictions | $277,028 |
| Net assets with donor restrictions | $4,426 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $363,508 |
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